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Capitana Coin History

The wreck of the Capitana is one of the only known sources of coinage from a unique period in the history of Spanish colonial coin production.  1654, the year the Capitana was lost, was the year that the scandal at the Potosi mint in present day Bolivia was finally concluded.

For several years prior the Spanish monarchy was receiving complaints from governments around the world that the quality of coins being produced at Potosi was quite low.  For example, 8 reale coins should contain exactly 8 reales of silver, but this was not the case.  The amount of silver in each coin varied with some having as little as 6 reales.  This greatly concerned the Spanish government; especially since Spanish coinage was considered official coinage by many nations of the world, including the early United States.

In response to this erosion of confidence in Spanish coinage, King Phillip IV sent Royal Inspector Don Fransisco de Nestares Marin to the mint in 1648 to investigate.  His findings concluded that officials of the mint had been adding disproportionate amounts of copper to the coinage while stealing silver from the minting process.  His investigation resulted in some officials being executed while others received lengthy prison terms.

The Royal Inspector ordered a recall of all coinage produced between 1625 and 1649, the final year of Royal Assayer Juan Rodriguez de Rodas.  Large quantities were melted down while many others were stamped or “countermarked” to indicate a reduced value.  These countermarked coins were then put back into circulation between 1649 and 1652.

In 1652 a new coin design was adopted by the Spanish crown.  This was done to differentiate the new coins from the tainted coins containing countermarks and help restore confidence in the Spanish monetary system.

Prototype Testing Underway

As of April, 2008, Whites Electronics, the leading manufacturer of metal detectors in the world, will be working with RSOPS on the wreck of the Capitana off the coast of Ecuador and future wrecks that RSOPS has under development.

Gerry Edwards is currently testing the new pulse induction prototype in conjunction with this operation. It will be called the Surfmaster Dual Field. This new design incorporates a dual integrated coil with cutting edge dual channel processing technology and is designed to operate to depths of 100 feet. The detector features the ability to combine two operational coils in one head. This gives the detector more depth and greater sensitivity.

Gerry Edwards with an assortment of 1, 2, 4 and 8 reales

recovered from the wreck of the Capitana.

The heavily mineralized ocean bottom off the coast of Ecuador has provided a very challenging environment for testing this new prototype. The advanced design of this new detector provides much greater stability and features improved ability to cancel out mineralization which has been a problem for pulse induction units in the past.

Also incorporated is the ability to recover from fast sweeps of the coil. Old units had to be swept slowly over a target to read it. This is an adjustable feature on the new detector. This new unit has also been designed to locate gold with greater ease than in the past.

Gerry Edwards is satisfied that this new unit is performing to its expectations. Already used on a site in the Pacific he met with great success with the new detector. Gold, copper and silver coins were recovered with ease of use with the new detector. On April 22 he arrived in Ecuador to begin diving and testing the new unit on the Capitana site. On April 26 he made his first of several dives for the day and was impressed with the ability of the detector.

Gerry Edwards and Jose Chancay, Culture Ministry archaeologist,

discussing the various types of pottery and ceramics being recovered. 

RSOP’s ship the Beacon blew holes in the bottom with ease and exposed coins that were in excellent condition because of them being buried in mud. In very poor visibility or next to no visibility he was able to locate targets with just sound. As the operation continues Gerry will provide regular reports on the progress made. This new detector is scheduled for production by fall of 2008.

“Technology is a cornerstone of our business” said Scott Heimdal, President of RS Operations.  “From the beginning we’ve gone to great lengths to equip our team with the best technology available.  We’re looking forward to a long term R&D relationship with Whites Electronics on development of the next generation of detectors.”

Excavations Begin

RSOPS has recently begun excavation on the site believed to be the wreck of the Jesus Maria de la Pura y Limpia Concepcion de Nuestra Senora, also known as the Capitana.

The first phase has consisted of a series of test excavations made throughout the area to determine the overall extent of the wrecksite.  During this initial phase many coins and unique artifacts have come to the surface.

An assortment of recently recovered coins and artifacts.

An encrusted silver bar.